A new payment feature has been added to the instant messaging app, ‘Whatsapp’. With the new payment feature, people in India will now be able to transfer and receive money from their contacts. The payments can be made via Whatsapp using UPI. The feature will be available to all the Android and iOS devices.
How the Whatsapp Payment Feature Works!
Sending money to your Whatsapp Contacts will now be possible via payment feature of WhatsApp. You can access the payment function under the settings bar of Whatsapp. Visit the settings tab and click on payment options. When you click on the payment options, a new verification page will open up. Enter the mobile number that is linked to your bank account.
However, if you are currently using UPI, you need not link the bank account again. Users will first require verifying their number with OTP and will have to create a 4-digit UPI PIN. The user will be asked this UPI PIN before every transaction. This is the complete process. Now, when a user wants to send money to someone, the user will require opening the chat window of the concerned person and then click on the attachment clip icon on the screen. After that click on the payment button and a page will open up where the user can enter the amount which is to be sent.
Though Whatsapp pay feature seems to have made life easier yet the major drawback is that is it not compatible to make payments to other e-commerce marketplaces like Amazon, Flipkart etc. The feature also does not support payments to shopkeepers or brick and mortar stores unless the shopkeeper is in your contact list. Thus, the payment method gets very complicated. For such stores, Paytm is used much more than the UPI based apps.
On the Positive side
Although there are a number of apps such as Paytm and Tez for making UPI transactions but keeping a separate app specially for making payments or transfers is sometimes not preferred. Whatsapp is one of the most used apps in India and what better if people get the payment feature on the same platform. It will make things very easy for people and will also impact the rise of India’s digital drive.